Bitcoin Price Breaks $9,000, Doesn’t Stay For Long

March 20: the Bitcoin (BTC) price broke the $9,000 mark today after a rough start to the year in which the price decreased by nearly 70 percent from the December high of $20,000.

Following the December high the BTC price has moved downward in fits and starts. On January 17, BTC price was down to $9,724, less than half of where it had been a month previously when it scraped the underside of $20,000. The month of February started with BTC dipping below $9,000 for the first time since late Nov. 2017.

By February the price had sunk to just $5,922, with skeptics claiming that it could sink even lower. By late February and early March, BTC was fluctuating around the $9,000 mark, with changes spurred by news of new regulations on exchanges by the US Securities and Exchange Commission (SEC).

A return to prices above $9,000 would provide the confidence many traders and investors need for the BTC value to grow even further.

At press time, Bitcoin was trading at $8,976.45

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